Following the government's October 15 real estate policy, temporary confusion regarding officetel loan regulations has been resolved, leading to a revitalization of the residential officetel (apatel) market. Initially, it was reported that the loan-to-value (LTV) ratio for commercial properties and officetels would be reduced from 70% to 40%. However, a correction clarified that residential officetels will continue to maintain the existing 70% LTV ratio.
As a result, investor sentiment, which had been dampened by the loan regulations, is showing signs of recovery. In particular, apatel products, which are subject to relatively fewer restrictions even within speculative zones, are drawing attention. Among these, ‘Gwangmyeong First Switzen’ in Gwangmyeong, Gyeonggi Province, is attracting significant market interest.
‘Gwangmyeong First Switzen’ is a mixed-use officetel complex located at 344 Gwangmyeong-dong, Gwangmyeong-si, Gyeonggi Province, consisting of 275 units across 11 floors (from the 3rd to the 13th floor). The first and second floors house neighborhood living facilities, and the complex offers a total of 12 floor plans across A, B, and C types. Designed primarily for one- and two-person households, it features compact layouts with efficient space utilization, appealing to both end-users and rental demand.
Most notably, the fact that it is a ‘completed complex’ available for immediate occupancy is drawing market attention. As construction has already been completed, buyers can move in or begin rental operations right away, making it a practical option that allows for immediate rental income upon purchase.
The complex also benefits from strong underlying demand. Ongoing relocation needs due to the Gwangmyeong New Town redevelopment project, combined with demand from approximately 400,000 office workers in the nearby Guro and Gasan Digital Complexes, contribute to the stability of the local rental market. In addition, the area boasts excellent transportation access via Gwangmyeong IC, the Second Gyeongin Expressway, and the Western Arterial Road, as well as convenient access to Seoul’s Guro and Gangnam districts via Subway Line 7.
The living infrastructure is also abundant. Major commercial facilities such as Gwangmyeong Traditional Market, Lotte Premium Outlet, IKEA, and Costco are located nearby, and the area offers excellent access to urban amenities. These locational advantages are expected to have a positive impact on long-term rental stability and asset value preservation.
A real estate industry insider stated, “With the confirmation that the 70% LTV ratio will be maintained, financial burdens have eased, and preference for complexes available for immediate move-in is increasing. Gwangmyeong First Switzen offers three key advantages-proximity to workplaces, strong living infrastructure, and immediate occupancy-making it an attractive option for buyers.”
Experts predict that the decision to maintain the LTV ratio will accelerate the recovery of the apatel market in the greater Seoul area. In particular, Gwangmyeong is expected to see a mid- to long-term increase in value, driven by major development factors such as the New Town redevelopment project and the Gwangmyeong-Siheung third-generation new city development.
‘Gwangmyeong First Switzen’ is currently offering the remaining units for sale on a first-come, first-served basis, and both end-users and investors are showing strong interest due to the ability to sign rental contracts immediately upon move-in.
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